website that calculates what a house is worth today based upon what was paid for it

Nenen

A couple of years ago someone told me about a website that calculates what a house is worth today based upon what was paid for it. I've completely forgotten the name of the site and been unable to find out through google etc. I think you had to input the date of purchase and amount paid with postcode and it calculated average price rises for that area over that period of time. I'd be really grateful if anyone knows the site I mean and could let me have the url. :beer:

jennifernil

I think Nationwide and HBOS do one, also nethouseprices.

Nenen

Thank you so much Jennifernil...:A I am amazed that less than 5 minutes after posting my question you gave me such a helpful (and accurate) reply!
:beer:

davef

Hi

Yep I use the Nationwide site - link as follows :

http://www.nationwide.co.uk/hpi/

welshcakes

But surely that would not take into account improvements or the circumstances of sale (eg a repossession)? For example, six months ago a house I have was uninhabitable and now is a contemporary stunnier having been totally refurbished.

moonrakerz

Just had a play with the Nationwide calculator. I am about to sell my present house and the figure it produced is about in line with what I was expecting.

However, ran it on my last two houses; one in Scotland and one near Southampton and the figures it came up with there were hopelessly optimistic !

Nenen

moonrakerz... Yes, I found similarly, however, it does at least provide a ball park figure. I also found that the HBOS site gave a small but significantly different figure to the Nationwide one. It made me feel better that we have just got an offer for our house that is very much in line with the predictions. We've lived here for 15 years so I wonder if these valuations are more accurate over time (irons out over/under optimism more I guess)


I also agree with welshcakes that of course a lot depends on whether you have done much to it (e.g. these predictions wouldn't factor in a large extension). However, if you know the original price and then add to that what you would have paid experts to do the job before calculating what the value is now, you can get a rough estimate of what the value now might be.

The reason I wanted to look, was the house we are considering buying was purchased by the current owners less than 2 years ago. It appears they have done quite a lot to it (new kitchen/windows/bathrooms & decorating throughout) but no extensions or structural changes. I found out via ourproperty what they paid for it (£100,000 less than they are now marketing it for) and was keen to see if what they are asking (given the work they've done) was roughly in line with expectations. According to both of these sites they are asking over the top! It has helped clarify our thinkng over what to offer!